Metrobank Sees Private Wealth Investors Turning Choosier in 2026

Why It Matters

The shift signals a maturing wealth‑management market in the Philippines, influencing demand for diversified products and shaping regional capital flows.

Key Takeaways

• Wealthy Filipinos prioritize Asian emerging‑market equities.
• ETFs dominate equity exposure for diversified risk.
• Active global credit funds boost fixed‑income allocations.
• Commodities and digital assets used as tactical hedges.
• Private‑equity and real‑estate interest remains low.

Pulse Analysis

The private‑wealth segment in the Philippines is entering 2026 with a markedly more disciplined mindset. After years of chasing headline returns, high‑net‑worth families are now vetting each allocation against macro uncertainty and uneven global growth. This behavioral shift aligns with broader Asian trends where investors gravitate toward markets offering attractive valuations and resilient earnings, particularly in sectors like semiconductors that benefit from artificial‑intelligence demand. By prioritizing selective risk, these investors are reshaping the demand curve for wealth‑management services.

For providers, the new hierarchy of asset classes creates clear product opportunities. Exchange‑traded funds have become the conduit of choice for equity exposure, delivering diversified regional and global coverage while keeping transaction costs low. Meanwhile, active global credit mutual funds are seeing increased inflows as clients seek fixed‑income buffers that can be actively managed for duration and credit quality. Alternatives are no longer peripheral; commodities such as gold and silver are being positioned as hedges against geopolitical volatility, and digital assets are gaining tactical, youth‑driven interest. Conversely, capital allocation to private‑equity, real‑estate and hedge funds remains restrained, reflecting higher financing costs and liquidity concerns.

The broader implication for the regional financial ecosystem is a gradual reallocation of capital toward more liquid, transparent instruments. Banks like Metrobank stand to benefit by expanding their suite of ETFs, active credit solutions, and curated alternative offerings. At the same time, the muted appetite for illiquid assets may pressure private‑equity sponsors to innovate financing structures. As interest‑rate expectations evolve and policy uncertainty persists, the Philippine wealth market’s pivot toward selective, diversified portfolios could serve as a bellwether for emerging‑market investor behavior across the continent.

Metrobank sees private wealth investors turning choosier in 2026

By Emmanuel John B. Abris · @inquirerdotnet · Philippine Daily Inquirer · 02:16 AM February 11, 2026

MANILA, Philippines – Private wealth investors are heading into 2026 with a more disciplined and opportunity‑driven approach to asset allocation, as selective risk‑taking and diversification take precedence over broad market bets, according to Metropolitan Bank & Trust Co. (Metrobank).

In a recent note, Metrobank said high‑net‑worth and ultra‑high‑net‑worth clients are becoming more deliberate about where risk is best rewarded, amid uneven global growth and persistent policy uncertainty in developed markets.

The Ty family‑led bank observed a growing preference for Asia and other emerging markets, where valuations are seen as more attractive and earnings prospects more resilient.

“Investors are no longer simply chasing returns. They are far more selective about how and where capital is deployed,” said Ma. Cristina Gabaldon, Metrobank head of investment management.

Gabaldon said portfolios are becoming increasingly differentiated to balance opportunity with caution. Equities remain the primary growth driver for medium‑risk private‑wealth portfolios. Investors are maintaining overweight positions versus fixed income.

Exposure is increasingly accessed through exchange‑traded funds, particularly those providing global and regional equity allocations. Asia continues to draw interest, supported by structural themes such as semiconductor companies benefiting from artificial intelligence and relatively better valuations.

Against this backdrop, Metrobank said investors are selectively adding fixed‑income exposure to enhance portfolio resilience. These allocations are largely made through active mutual funds that provide global credit exposure, duration‑management expertise and access to agency‑backed securities and other specialized segments. Fixed income, the bank noted, serves as a stabilizer amid volatile markets and expectations of a more supportive interest‑rate environment later in the year.

Alternative assets are also playing a bigger role. Allocations to commodities, such as gold and silver, are rising, as these are increasingly viewed as strategic hedges against geopolitical risks and currency volatility. Interest in digital assets is likewise evolving, particularly among younger, investment‑savvy ultra‑high‑net‑worth clients, although exposure remains tactical.

In contrast, appetite for private equity, real estate and hedge funds remains muted due to higher financing costs and concerns over liquidity.

Overall, Metrobank said the trend reflects a more mature investment mindset, with portfolios anchored on equities for growth, supported by selective fixed income and complemented by alternatives for risk management.